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What (who) is defalcation$19469$ - definition
defalcation
![Defalcation literally means "cutting off with a ''[[falx]]''" ("sickle").](https://commons.wikimedia.org/wiki/Special:FilePath/Falx bgiu.png?width=200 "Defalcation literally means \"cutting off with a ''[[falx]]''\" (\"sickle\").")
MISAPPROPRIATION OF FUNDS BY AN ENTRUSTED PERSON
Defalcate
v. from Latin for "deduction," withholding or misappropriating funds held for another, particularly by a public official, or failing to make a proper accounting.
Defalcation
MISAPPROPRIATION OF FUNDS BY AN ENTRUSTED PERSON
Defalcate
Defalcation is misappropriation of funds by a person trusted with their charge; also, the act of misappropriation, or an instance thereof. The term is more specifically used by the United States Bankruptcy Code to describe a category of acts that taint a particular debt such that it cannot be discharged in bankruptcy.
Defalcation
MISAPPROPRIATION OF FUNDS BY AN ENTRUSTED PERSON
Defalcate
·noun That which is lopped off, diminished, or abated.
II. Defalcation ·noun An abstraction of money, ·etc., by an officer or agent having it in trust; an Embezzlement.
III. Defalcation ·noun A lopping off; a diminution; abatement; deficit. Specifically: Reduction of a claim by deducting a counterclaim; set- off.
